Aurrigo International, which listed on the Alternative Investment Market (AIM) in 2022, has seen revenue rise to a total £3.9m turnover – a 26% rise in line with the expectations of the board.
This has been accelerated by the uptake of its Auto-Sim digital twin product and the deployment of its all-electric Auto-DollyTug® at five global airports, providing the blueprint for how baggage and cargo will be transported in the future.
£800,000 of revenue has been generated in the first half of the year in autonomous solutions alone (160% rise), with the promise of annual sales touching £3m by the end of December.
A better product mix, combined with an increase in orders from long-term customers, has also resulted in double-digit growth for the automotive side of the business.
Professor David Keene, CEO of Aurrigo International, commented: “We are pleased to report a period of strong growth as we scale our technology, teams and customer engagements. The growth in our autonomous division reflects the steady scaleup of our smart airside solutions in key airport hubs around the world, which is driving increased interest across our target aviation market and a growing pipeline.
“During the period, we have expanded our international teams, enhanced our hardware and software offering, and advanced our engagement with key strategic partners, providing a robust foundation for growth.”
An enhanced autonomous solution offering following vehicle functionality advancements has been one of the key operational highlights of 2024 for Aurrigo so far, with the incorporation of robotic arms on the body allowing the vehicle to autonomously load and unload a ULD itself.
The successful deployment of Auto-DollyTug airside has accelerated customer interest and led to the signing of three strategic partnership deals that gives the business access to a network of over 460 airports.
Alongside these developments, the company has invested heavily in scaling up its UK team at its Advanced Engineering Centre in Coventry, bolstering its operation in Singapore and opening a new office in the US at Cincinnati/Northern Kentucky International Airport.
David concluded: “We enter the second half of 2024 with good momentum, improving margins and a clear pipeline of deliverables, giving us confidence in our growth opportunity to help deliver the airport of the future.”
